FAFSA Day MA Event - Shared screen with speaker view
Who can see your viewing activity?
Will there be an opportunity for us to ask specific questions?
If everyone could mute please
I do not see the QA
You are using a meeting and not a webinar. There is no QA
We've been trying for days to get past that part of the FAFSA app wherein one is transferred to the IRS site in order to have the IRS send to FAFSA TY 2020 information. When will this part of the FAFSA/IRS site be running successfully?
OK to use Chat to get your questions answered
I've done FAFSA for eight years with my other kids, so I'm wondering if there is something different this year - AND - is there something specific to FAFSA for Massachusetts? I would think no since it's a federal program
Susan, I was not aware this was an issue with this.
My husband died 3 weeks ago. What do I do to reflect our very different financial situation with twins going to college?
@susan, I used the website FAFSA form yesterday and it was super easy to connect to the IRS and get the data transferred (about 3-5 clicks)
@Wayne, nothing different. If a MA resident you may qualify for MA state grants
I will have 2 students next year. Do I need to create a profile for each child?
@Jessica, I am sorry for your loss. If you are completing it today, you are going to do it as widowed.
Yes, each child needs their own FSA ID
OK, that's different for me because I filled them out when we lived in Texas. So the state grant part you mentioned will be part of this presentation?
hi we have twins both going to be college freshmen fall 22
It’s automatic by saying your state of residency is MA
@Kelly Burns: Each student will need a separate FSA ID and each need a separate FAFSA profile completed. One parent ID is required.
@Kathleen, they will each need their own FSA ID and a parent needs one as well
I have a couple of questions about items 86 and 89, which is "How much did your parent earn from working in 2020?", for each parent.My husband is disabled. He cannot work and is on permanent LTD, although he is classified by his employer as “employed”. His income comes from two sources, neither of which arrive on a W-2: Long Term Disability Insurance payments and Social Security Disability Insurance Payments (SSDI). The Social Security Disability payments are considered 85% taxable on our 1040 tax return. The Long Term Disability is non-taxable sick pay. Do either or both of these sources qualify as money “earned from working”? If the SSDI qualifies, should I include only the taxed 85% amount, or the whole amount?I work. On my W-2, Box 1 lists my compensation, and Box 12b lists deferrals to my 401k. A book I am using, “Princeton Review’s Paying for College” (p198) advises that both those amounts be counted as my money earned from working. Does this sound right?
On average how long does it take from submission for processing? I have notification/confirmation # its been recieved as of 10/4. But haven’t received notification of processing.
You will also answer the questions to have 2 in college
What if your parents don’t want to sign for FAFSA?
we have 529 plan for each how do we report can we break it down or hhave to put total for both on each fafsa form
So only one form? But two different FAFSA ID’s? For sign off
@Veronica, we will review the dependency questions but it can’t solely be the parent doesn’t want to. There is more criteria we will cover
What about a child whose parents live in two different homes - i.e. parents divorced? Do both have to complete or sign the form?
@joanne allen---one form 2 FSA ID's, one for student, one for parent to sign electronically
@Joellen, no, you will need to complete a FAFSA for each student
Amy will address the divorce parents filing
does the Parent Income section of the FAFSA include unemployment benefits?
@Lauren, the parent that provides at least 51% of the support for the child in on FAFSA
do you need the ID first or can you start filling out the form?
You can start the FAFSA but you can’t formally sign without the FSA ID
SO you can start, save, and once FSA ID Is verified you can then submit it formally
how do you report 529 money if you have more than 1 child with 529 account
So if my daughter is a freshman 2022, fill out the 2022 button
I had to step away. Did I hear my name?
@Rachel, yes, that is correct 2022-2023
Is everyone required to fill out the FAFSA form?
@kathleen, Amy will answer that but it depends if it’s in your name or the student name
Question 92a on the FAFSA is similar to question 87 and asks about the Payments to tax-deferred pension and retirement savings plans. Both questions refes to box 12b on my 1040 tax return. Should I include the amount in Box 12b in my answers to both questions?
do both parents need to fill the form?
I received an email from US Dept of Ed as I must have started a second FAFSA app thinking there was one required for each parent and student. Any idea how can delete this?
@Urvashi, no, not everyone. If you are a US Citizen or naturalized citizen, we recommend you do it at least the first time to see what you qualify for. At the minimum you will receive the federal direct loans
@Laurence, only one parent needs an FSA ID to complete FAFSA, if married you need to provide spouses income as well, for both of you
Can the email address be changed later?
ok thank you
2 separate 529 plans in each students name
@Joanne, if you started a second by accident, you can’t delete it but it won’t go anywhere if not completed. So just ignore/disregard emails on that second app
@Kathleen, each one will be listed on the student asstest
I don't want to over report so separate amounts on each childs fafsa? for 529
In question 92h, which requests "Enter amounts for other untaxed income not reported, such as workers' compensation, disability benefits, etc", the FAFSA instructions say “don’t include untaxed Social Security benefits”. I assume Social Security Disability Insurance (SSDI) counts as Social Security. I assume this means I should add Long Term Disability benefits, but not SSDI. Is this correct?
@Roger, yes, you can change the email address for the FSA ID, once it’s been verified with the social security administration
We have not lived in MA for five years so we aren't eligible for the state grants?
529 is a parent asset not student!
How do I find this
@Wayne, yes, that is correct. It does require citizenship for 5 years
sorry if i missed the answer already but when is this application due?
@Kathleen, not if in the students name, it’s a student asset
state residency, not citizenship
@WAyne, yes. MA residency for 5 years for MA state grants
yo ill play league
@janine, if depends on the institution. Typically the sooner the better.
Do Colleges use the FAFSA information for merit scholarship consideration?
you like my cutr
@chris lee what is your pfp
new hair cut
This is really not appreciated
@mark, no, merit is solely based on academics from high school
@chris lee please stop it is very annoying
My 529s statements say Roger = Owner, FBO = my son's name so it sounds like it is my asset and not my son's right?
529 plans are owned by the parent, and the student is the beneficiary, so the 529 plan is the parent’s asset
In wanting to be sure I completed properly….I am waiting for confirmation of FAFSA processing, how long from submission to processing? Or is there a way to confirm I have submitted all info correctly or possibly need to correct?
Yes.. that is what I have been told but in this thread it was stated that it could be under the kids names too.
so confused now I was told 529 is parent asset not child utma and ugma differentthey are recorded as student just important because they are penalized more if student asset
Does the fafsa need to be done prior to early action Nov !st
@kathleen check your 529 statement to see if it spells out ownership and for whose benefit.
Yes - true. Grandparents can take them. Was speaking of the FAFSA scenario of reporting assets. Apologies for any confusion
What if grandparents own 529 with child as beneficiary… would this be parent asset?
@Rachel, not necessarily. It depends if they are sending their financial aid award letter with the accept letter. If you submit the FAFSA later, you will receive a revised award letter
@Stacey, no, it would be under the student.
Missed the number of days…
What is the days you wait to remove the other colleges
@Rachel, once it’s processed, usually 2-3 business days. The student will receive notification when it’s processed
I was also going to ask that Rachel
Then you can go back and make a change
OH ok thank you so much
wait why does it make me unmute
@rachel be more formal instead of k
So sorry I am trying to listen !!
@Rachel ok just rembner
What to do when processed is beyond 2-3 days? We have confirmation of received, but not processed and submitted 10/4
Was there a rule, sorry I came in late
om gosh pelase stop @chris lee
No, chris lee is being a heckler
@Joanne, I would suggest logging back in to see the status. If you have questions, if wouldn’t hurt to call. I know it can get backed up a little in the beginning since so many are processing. Also with the holiday, only count business days
Is it possible to have a separated status for parents without a legal separation ? If yes how to justify this status ?
@lindsay who would one call?
@Myriam, yes. You complete it as separated and it should separate out income. If married, filing jointly for the year requested you can separate income yourself based on the custodial parent’s W-2
800-433-3243 or 800-4-FED-AID
did u just doc me?
No today is a normal day
I just asked on the federal student aid website through chat and they told me that without a legal statement of the separation I need to enter my info as married.
What type of parents if they are married but one lives in the USA as permanent resident and other lives outside USA and sometimes come to USA as a tourist?
No, not unless selected for federal verification. Then the school may require additional documentation
🤡 Hehe these images are quite
sorry mis clicked
Oh, My B
Danny if you are just going to joke then get out
Jees Wolees please I'm sorry no need to be aggressive
@Lindsay I believe Danny g is a zoom bomber and is being disruptive
From danny G to Me (Direct Message) 07:35 PMSays you you are the one who is being negative
this is what he sent
What if child lives with parents equally at each home? Do you still only select one parent to list?
@Lauren, yes. It’s at least 51% of the time parent
It’s not easy to determine at times but just one
Still did not get how to do if apply more than 10 schools.
So any of my dads or moms can sign off or only the biological ones
What if my ex-significant other is out of the country and theyre not a citizen?
how about if you are remarried but the step parent does not live in this country
@Changai, you put the first 10 schools and submit. Wait for the FAFSA to process. Once processed, you can remove schools and add others. We recommend, keeping the top 2-3 one there so they receive any updates, if applicable
Do the grand parents have to be documented on the taxes
@Rachel, not, your taxes are what is required by the IRS. Unless you are supporting them and they live in your household, you put them on FAFSA
Do you include a dependent student graduating college in May 2022?
If you have more than 10 schools--submit the first 10 then wait until it processes. Once it processes you'll be able to go back in, take off colleges and add the ones you need to.
@Mark, not. It will ask dates, which I believe are July 1, 2022 through June 20, 2023
sorry I'm late!
Who will be enrolled in college/university during that timeframe
my parents filed a 8872 form, which type of income tax would I click?
Can you use the 2021 taxes
Is this only the parent reporting or for both parents in the case of divorced parents
@Lauren, only the custodial parent in a divorce situation. If that custodial parent is remarried, their spouse as well
does the Parent Income section of the FAFSA include unemployment benefits?
@Rachel, no, FAFSA requires 2020, however, if 2021 is going to be worse. It’s what Amy is talking about right now
Ooops Late! Had wrong naame. LOL
So if the child resides with both parents equally but based on financial support, dad is the greater financial supporter, do we use dad’s tax return?
2020 taxes are used for 2022-23 application season
@Ivan, not income earned but in AGI on the taxes, yes it’s included
AGI what’s this mean?
@lauren canavan---yes, the parent who provides more financial support is on the FAFSA
@Lauren, it’s going to be whatever parent provides at lease 51% of the support or more
AGI means Adjusted Gross Income
What if my spouse is in another country and does not contribute to the household.
the IRS tool does the AGI right?
Yes, the data retrieval tool will pull directly from the IRS and include all of that.
If you have a question---please type it in the chat
wait, The IRS is involved?
This might be an issue
We recommend as financial aid professionals to use the data retrieval tool
Also how do you the use the TOOL again to pull the IRS info over
It’s in the FAFSA, it will ask you if you want to use it
Then you will have to answer some prompt questions to leave to go to IRS website
Will It bring you back?
Yes, it will bring you back to FAFSA when complete
A recording of this presentation will be available in a week or so at https://masfaa.org/fafsaday/ for anyone who may have joined after the presentation began and wants to see and listen to the presentation from the beginning.
I will be back in a second!
We will also follow up with an email with a link to the recording and additional resources
don't want the IRS to wait for me.. LOL
What if my information has not been updated for 3 years? Is that a major problem?
What if my spouse ( step parent) is in another country and does not contribute to the household nor lives here.
Does I have to include him if he doesn't live in the home
Isn’t the AGI question duplicate from the irs data retrieval
@bethania, if selected for verification or a CSS profile school they will ask for your spouses income information and want to include it, after calculated into US currency
Do we include both parents financial info if parents are divorced?
@Lauren, no, only the custodial parent
I asked a question near the start of the thread about parents who are disabled and receive SSDI. My question wasn’t answered. If you can’t answer questions this specific please let me know, so I can stop watching this chaotic chat.
I have a question.
I was a bit late to this event.... do you have to add college IDs to the FAFSA applications while completing it, or are colleges able to be added/changed after completing the FAFSA application?
So to clarify if parents are divorced, only include the parent who is the custodial parent for the tax return info?
Have confirmation of received FAFSA but Can’t access the actual submitted FAFSA form to confirm data retrieval form and other information - via app now what? Who do I contact?
@marcia, you can add 10 right away. Once the FAFSA has been processed, you can delete other institutions and add new ones and re-submit
@Lindsey, thank you
Instution aide is this the loans
What percent of the current cash balance do they calculate?
If I declare myself as separated but I have filed jointly my taxes with my futur ex-husband, what kind of documentation must be provided to make proof of the data entered ?
Dont get them on me, or ill have to call Jacob Nikiciuck! LOL
ok Im sorry LOL
@Myriam, it will depend on the institution but in my experience, either proof of separation, any legal filing or proof of residing at separate households. Separate utility bills, etc.
if the student earned money in 2021 am I need to report it?
How long does it take to fill out.
We have still lots of entangled bills for both houses we are using separately, so I imagine that the utility bills must be under the name of each person ?
Does it save, if you stop and do it the next day
If student did file a tax return in 2020 but won't be working once entering college - how is that calculated into the overall financial aid?
@Rachel : Federal loan eligibility is determined by the FAFSA. Private (non-Federal) loan eligibility are not determined through the FAFSA. Institutional aid is awarded by each institution, based on their individual criteria.
This is based on 2020 tax information. In 2023-2024 that information will be accounted for.
Does it need to be done b4 Nov 1st Early Action?
@Rachel. It all depends on the institution. I would recommend getting it done before Nov 1
@Laurence: student earned income for 2021 would be reported for the 2023-2024 FAFSA that would be done after October 1, 2022.
What are the loans calls that you can get through the FAFSA
Trying to submit financial info. Many answers are zero, it won’t accept the entry.
FAFSA determines Federal loan eligibility
@Rachel, also state and federal grants, if high need situations
Yes but students can get loans from the FAFSA
@Rachel, yes, at the very minimum the student will receive a federal direct loan
Which is a terrific student loan, if loans are needed to pay for college
I can't out zero in the parent untax income ??
where is the email to contact you
what do I do??
Can you put your # and email in the chat?
for 529 plans do you put the whole amount in if its shared with 2 children or just the amount for the child going to college.
Thank you to the volunteers, for this presentation!
parent untax section won't let me out "0"
What is the email and phone number for follow-up questions??
@Mary, you divide it per child unless in your name. You claim the entire amount on your FAFSA
We'll be sending a follow up email with all information tomorrow. Feel free to reach out
ok thank you.
so you are saying that you don't have to list the 2nd parent
When I put widow on the form and they see tax return how do they know our financial situation is so different
it won't except "0" for my zero 😫
trying once more on 529 question---its a parent asset but do you divide it by each kids account on their fafasa form?
I filled out most of the FAFSA but when I wen tback in it said it needed to verify my social in order to access my account??
Phone or email
Will I be able to view the Q&As after this presentation
Thanks so much
The untaxed zero doesn’t work on some browsers. It worked in chrome on pc
Nhu Quynh Pham
Are you gonna send the recording to the email address we provided before joining this meeting?
does the parent go on the same link to get their own FSAID id?
Thank you ...that's wonderful
Thank you soooo much!!